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Jamie Dupree

No Ordinary Federal Holiday

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Jamie Dupree
@ October 13, 2008 12:00 AM
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If Wall Street and other world financial markets weren't in a meltdown right now, this would be a day of pomp and circumstance at the White House, as President Bush welcomes the leader of Italy and celebrates with a State Dinner at the White House.

Instead, this Columbus Day won't be all about Italian-American heritage and Christopher Columbus, as Mr. Bush and Silvio Berlusconi must deal with the looming financial crisis that has gripped politicians for weeks.

There's also no day off for some of the big shots in the Congress, as House Speaker Nancy Pelosi will be back in Washington, D.C. to figure out the next response from Democrats.

Over the weekend, it became clear that Pelosi may be ready to call the House back into session after the elections to deal with the US economy.

The California Democrat had initially ruled that out, but now Democrats see that as a distinct possibility, allowing them to press the case for a second economic stimulus bill.

Republicans have reacted coolly to the idea, but I would bet a lot of them would end up going for it. We'll see.

So today, Pelosi will meet with economists and probably try to put some heat on the White House to get on board with a second stimulus.

GOP lawmakers say they don't want it to turn into a massive pork barrel project.

Stay tuned.



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